• New Fund Offer Period: October 23 – October 26, 2023

MUMBAI, 22 OCTOBER, 2023 (GPN): SBI Mutual Fund announced the launch of SBI NIFTY 1D RATE ETF, an open-ended Exchange Traded Fund replicating/tracking NIFTY 1D Rate Index, benchmark of the scheme. The new fund offer would open on October 23, 2023, and close on October 26, 2023.

The investment objective of the scheme is to generate returns, before expenses, that correspond to the returns of the NIFTY 1D Rate Index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme would be achieved.

One of the unique benefits of the SBI NIFTY 1D RATE ETF is cash equitization, which facilitates simultaneous buy/sell transactions of shares with 1D RATE ETFs popularly known as Liquid ETF.

Investors can consider investing in this fund due to opportunity of market linked returns, as historically the index has consistently delivered higher rolling returns when compared to zero returns in trading accounts. The fund will provide higher liquidity due to its listing on stock exchanges, a quality portfolio comprising of investment in money market securities (TREPS) backed by collateral with no marked to market risk, as investment is in overnight TREPs. A cost-effective investment option with no security transaction tax (STT), entry or exit load charges, and a small lot size of 1 unit for trading on exchanges. This level of convenience not only saves time but also streamlines the movement of funds from a bank account.

The scheme will invest 95-100% in Securities comprising NIFTY 1D Rate Index i.e., Tri Party Repo on Government Securities or T bills and 0-5% in Repo/ Reverse Repo in Government Securities and any other similar overnight instruments, Units of Liquid & Overnight schemes, Debt & Money Market Instruments (with maturity not exceeding 91 days) and cash & cash equivalents.

Mr. Tejas Soman, will be the fund manager for the scheme.

The minimum application amount:

• During NFO: will be Rs 5,000 and in multiples of Re 1000 thereafter.

On an ongoing basis.

• Directly with Fund : Market Makers and Large Investors (subject to transactions greater than INR 25 crores or such other amount as may be specified by SEBI from time to time) provided the value of units to be purchased is in creation unit size or multiples thereof. The aforesaid limit of Rs.25 crores or such other amount as may be specified by SEBI from time to time is not applicable for Market Makers.

The above limit shall not be applicable for the below investors till 31st October, 2023.

• Schemes managed by Employee Provident Fund Organization, India.
• Recognized Provident Fund, approved gratuity funds and approved superannuation funds under Income Tax Act 1961.

On the Exchange: The units of the scheme can be purchase/ redeem in minimum lot of 1 unit and in multiples thereof. Ends